According to a Mind & Money Connection survey, people are refusing to give up certain expenses even though they are considered non-essential.
The top expenses include:
- 'Treat Yourself' Purchases (like morning coffee) - 30.1%
- Health & Wellness (gym memberships, therapy, etc.) - 29.3%
- Media & Entertainment (streaming, music subscriptions) - 26.9%
- Experiences (movie tickets, concerts, theme parks) - 26.7%
- Social Activities (dining out, clubs, sports) - 22.5%
I can understand the desire to maintain certain health/wellness, and some extras to add normalcy during tough times, but there are options worth considering.
For those who want to hold onto non-essentials, I suggest exploring more affordable alternatives:
- Amazon Prime provides good entertainment value in addition to free shipping
- Amazon offers monthly payment plans
- Amazon provides TV/Film, Games, Music, and More in one service
- Grubhub orders are free through Amazon Prime - Free streaming services like FreeVee, Pluto TV, Tubi
- Buy good coffee to make at home
- Free-to-play gaming options, discounts/bundles and games you already own
- Thrift stores and second-hand shops for clothing
- Travel or enjoy a nice affordable staycation
The key is to budget and do your research, get creative with free/low-cost options, and prioritize covering essential expenses first. Resources like the $30 Now Home Internet service can help make entertainment and work accessible if you need to cut a cost.
Remember, there are also assistance programs in the U.S. for the less fortunate. With discipline and a good plan, you can hopefully get through this challenging time and establish a budget. For saving, Paypal actually has a saving account option that provides you with 4.30%, so if you plug a small amount of money into it on a consistent basis you can benefit.
Lastly, Rideshare drivers, you can make $1200/year without additional work by signing up for a tablet to entertain your passengers. There is no charge for you and tips may increase due to the added entertainment.
